Investment

A unit of Saudi Arabia’s Public Investment Fund (PIF) is boosting its investment in a technology venture with China’s Alibaba Group. Jada Fund of Funds, owned by the Saudi PIF, is participating in eWTP Arabia’s upcoming $1 billion funding round, bringing its total investment in the entity to approximately $200 million. The fund will focus on investing in technology and...

Saudi Arabia's Public Investment Fund (PIF) has purchased a 49% stake in Rocco Forte Hotels, a luxury hotel group owned by Sir Rocco Forte. The deal, valued at £1.2bn ($1.6bn), includes plans to double the chain's size over the next five years with new hotels in the Middle East, Italy, and the US. As part of the agreement, Italian sovereign...

Saudi Arabia's General Authority of Civil Aviation (GACA) has revealed plans to invest $100 million in order to further enhance the country's tourism efforts and aviation strategy. The investment aligns with Vision 2030, Saudi Arabia's long-term economic development plan. The announcement was made by Abdulaziz Al-Duailej, the president of GACA, during the 15th International Conference on Air Services Negotiations in...

Saudi Arabia NEOM Investment Fund (NIF) has announced its acquisition of a 6% stake in Technogym, the Italian fitness equipment maker. The investment, totaling €111 million ($120.83 million), establishes NIF as a long-term minority shareholder in Technogym. In a reverse accelerated bookbuilding operation, NIF purchased 8.8 million shares from other investors and entered a derivative solution for the purchase of...

Saudi Arabia's Public Investment Fund (PIF) is teaming up with asset management firm Patria Investments to invest in a $1.2bn development project to build a major road in Brazil. The consortium formed by Patria and PIF has secured a 30-year concession for the capacity extension and operation of a toll road project in the Brazilian state of Parana. The project,...

Saudi Arabia is poised to undertake a grandiose venture, connecting its eastern and western coasts through an extensive terrestrial bridge. Spanning an extraordinary 1300 km, this project is expected to stand as a momentous achievement in the kingdom's path of growth. The esteemed company "SAR" has been entrusted with the execution of this awe-inspiring endeavor, which comes with a staggering...